Ready Capital Co. (NYSE:RC) Given Average Recommendation of “Buy” by Brokerages

Ready Capital Co. (NYSE:RC) has been given an average rating of “Buy” by the eight ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $13.35.

Several research firms recently weighed in on RC. Zacks Investment Research lowered shares of Ready Capital from a “buy” rating to a “hold” rating in a research note on Friday, November 27th. Raymond James increased their price objective on shares of Ready Capital from $12.50 to $14.25 and gave the stock an “outperform” rating in a research note on Friday, November 20th. TheStreet upgraded shares of Ready Capital from a “d+” rating to a “c-” rating in a research report on Wednesday, February 3rd. B. Riley upped their target price on shares of Ready Capital from $12.00 to $14.50 and gave the stock a “buy” rating in a research report on Tuesday, November 24th. Finally, BTIG Research started coverage on shares of Ready Capital in a research report on Tuesday, February 2nd. They issued a “buy” rating and a $14.00 target price for the company.

RC traded down $0.16 on Tuesday, hitting $13.12. 13,961 shares of the company’s stock were exchanged, compared to its average volume of 441,030. The firm has a market cap of $724.76 million, a PE ratio of 18.97 and a beta of 1.08. Ready Capital has a twelve month low of $3.92 and a twelve month high of $16.22. The stock has a fifty day moving average of $12.22 and a two-hundred day moving average of $11.78. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.54.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 29th. Stockholders of record on Thursday, December 31st were issued a $0.35 dividend. The ex-dividend date was Wednesday, December 30th. This is a boost from Ready Capital’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 10.67%. Ready Capital’s dividend payout ratio (DPR) is 90.91%.

Several institutional investors have recently bought and sold shares of RC. Northwest Investment Counselors LLC bought a new position in shares of Ready Capital in the third quarter valued at approximately $36,000. Metropolitan Life Insurance Co NY purchased a new stake in shares of Ready Capital in the 1st quarter valued at approximately $90,000. Telemus Capital LLC purchased a new stake in shares of Ready Capital in the 3rd quarter valued at approximately $118,000. Concorde Asset Management LLC purchased a new stake in shares of Ready Capital in the 3rd quarter valued at approximately $120,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Ready Capital in the 4th quarter valued at approximately $125,000. Institutional investors and hedge funds own 45.84% of the company’s stock.

About Ready Capital

Ready Capital Corporation operates as a real estate finance company in the United States. The company originates, acquires, finances, and services small balance commercial (SBC) loans, small business administration (SBA) loans, and residential mortgage loans, as well as mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.

Featured Article: How are institutional investors different from individual investors?

Analyst Recommendations for Ready Capital (NYSE:RC)

Receive News & Ratings for Ready Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ready Capital and related companies with MarketBeat.com's FREE daily email newsletter.